Aditya Birla Bids For New Hope, Valued At $5B - Aditya Birla Group, controlled by Indian billionaire Kumar Mangalam Birla, placed a bid to buy Australian coal producer New Hope Corp.. Aditya Birla made an offer on Nov. 25 while Tata Group’s power and steel units and JSW Steel Ltd. decided not to bid. New Hope has market value of $5 bn. (Bloomberg)

PFC Fund Bids In Mid-December - Power Finance Corporation (PFC) would, in mid-December, invite bids to set up a private equity fund. The power sector lender also plans to set up a trust and is scouting for a fund manager. PFC is looking to set up a fund worth $1 billion for financing power projects. PFC would tie up with a domestic fund manager, which would have 51 per cent stake in the fund. (Business Standard)

DLF Close To Selling Aman Resorts - DLF, the country’s largest property developer, is likely to conclude the Aman Resorts deal by early 2012. The aim is to do so before the financial year is over. DLF would offload its stake in the chain, while retaining the Delhi Aman property. Khazanah, the Malaysian government’s wealth fund, is being seen as the most likely buyer. Other prominent bidders include Kingdom Holdings, the company which owns the Four Seasons Hotel, and a Chinese hospitality group, it is learnt. (Business Standard)

Warren Tea May Split Assets - The sparring promoters of Warren Tea Ltd could, to settle their dispute over control of the company, split its 14 estates and other assets between themselves. Two key shareholders, Anil Kumar Ruia and Vinay Kumar Goenka, have been fighting a legal battle over control of Warren since September. Warren took in Rs.213 crore in revenue and registered a net profit of Rs.20 crore in fiscal 2011. (Mint)

Tata Opportunities Fund Eyes African Firms - Tata Opportunities Fund, a private equity fund raised by the Tata group for investment only in Tata group companies, is planning its first overseas investment by picking a stake in ventures promoted by Tata Africa Holdings, the unit of Noel Tata-led Tata International that spearheads the group’s business activities in the African continent. (Financial Chronicle)

Indiareit To Raise Rs 500Cr For New Fund - Ajay Piramal Group-controlled property fund manager Indiareit Fund Advisors is aiming to raise more than Rs 500 crore through a new fund dedicated for investing only in redevelopment of slums and tenanted properties in Mumbai. The fund to be raised in domestic market will be launched in the next four months and will have a greenshoe option of Rs 250 crore. (Economic Times)

RBI Not Opposed To RBS Sale To HSBC - Royal Bank of Scotland (RBS) on Thursday said the Reserve Bank of India (RBI) had not rejected its proposal to sell the bank’s retail and commercial banking businesses in India to Hongkong and Shanghai Banking Corporation. (Business Standard)